UNITED STATES
               SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C.  20549

                           FORM 10-QSB

[X] Quarterly Report Pursuant to Section 13 or 15(d) of the
    Securities Exchange Act of 1934

    For the quarterly period ended      September 30, 2007

                               or
  [ ]Transition Report Pursuant to Section 13 or 15(d) of the Se
curities Exchange Act of 1934

    For the transition period from _________  to  ____________

    Commission File Number   __________ 0-13402_______________

    _____________Brauvin Real Estate Fund L.P. 4_______________
    (Name of small business issuer as specified in its charter)

               Delaware                      36-3304339
(State or other jurisdiction of          (I.R.S. Employer
     incorporation or organization)    Identification No.)

    30 North LaSalle Street, Chicago, Illinois        60602
     (Address of principal executive offices)      (Zip Code)

                         (312)759-7660
                  (Issuer's telephone number)

    Securities registered pursuant to Section 12(b) of the Act:
    Title of each class              Name of each exchange on
                                           which registered
               None                             None

    Securities registered pursuant to Section 12(g) of the Act:
                  Limited Partnership Interests
                        (Title of class)

Check  whether  the issuer (1) filed all reports required  to  be
filed by Section 13 or 15(d) of the Exchange Act during the  past
12  months  (or  for  such shorter period  that  the  issuer  was
required to file such reports), and (2) has been subject to  such
filing  requirements  for the past  90  days.   Yes      X     No
..

Indicate  by check mark whether registrant is a large accelerated
filer,  an  accelerated  filer or a non-accelerated  filer.   See
definition of "accelerated filer and large accelerated filer"  in
Rule  12b-2  of the Exchange Act.  (Check one): Large accelerated
filer [ ]  Accelerated filer [ ] Non-accelerated filer [X].

Indicate by check mark whether the registrant is a shell  company
(as defined by Rule 12b-2 of the Exchange Act).  Yes     No   X.


                              INDEX
                             PART I
                                                           Page

Item 1.   Financial Statements                               3

          Consolidated Statement of Net Assets in Liquidation
          as of September 30, 2007(Liquidation Basis)        4

          Consolidated Statement of Changes in Net Assets
          in Liquidation for the period January 1, 2007 to
          September 30, 2007 (Liquidation Basis)             5

          Consolidated Statement of Changes in Net Assets
          in Liquidation for the period January 1, 2006 to
          September 30, 2006 (Liquidation Basis)             6

          Consolidated Statement of Operations for the nine
          months ended September 30, 2007 and 2006
          (Liquidation Basis)                                7

          Consolidated Statements of Operations for the
          three months ended September 30, 2007 and 2006
          (Liquidation Basis)                                8

          Notes to Consolidated Financial Statements         9

Item 2.   Management's Discussion and Analysis or Plan
          of Operation                                      17

Item 3.   Controls and Procedures                           22

                             PART II
Item 1.   Legal Proceedings                                 23

Item 2.   Changes in Securities                             23

Item 3.   Defaults Upon Senior Securities                   23

Item 4.   Submission of Matters to a Vote of Security
          Holders                                           23

Item 5.   Other Information                                 23

Item 6.   Exhibits, and Reports on Form 8-K                 23

Signatures                                                  24


                 BRAUVIN REAL ESTATE FUND L.P. 4
                 (a Delaware limited partnership)


                 PART I - FINANCIAL INFORMATION

ITEM 1.   Financial Statements

 The   following   Consolidated  Statement  of  Net   Assets   in
Liquidation  as  of  September  30,  2007  (Liquidation   Basis),
Consolidated  Statement of Changes in Net Assets  in  Liquidation
for the period January 1, 2007 to September 30, 2007 (Liquidation
Basis),  Consolidated  Statement of  Changes  in  Net  Assets  in
Liquidation for the period January 1, 2006 to September 30,  2006
(Liquidation Basis, Consolidated Statements of Operations for the
nine months ended September 30, 2007 and 2006 (Liquidation Basis)
and  Consolidated Statements of Operations for the  three  months
ended September 30, 2007 and 2006 (Liquidation Basis) for Brauvin
Real  Estate  Fund L.P. 4 (the "Partnership") are  unaudited  but
reflect,  in  the  opinion  of  the management,  all  adjustments
necessary to present fairly the information required.   All  such
adjustments are of a normal recurring nature.

 These  financial  statements should be read in conjunction  with
the  financial  statements  and notes  thereto  included  in  the
Partnership's 2006 Annual Report on Form 10-KSB.



                 BRAUVIN REAL ESTATE FUND L.P. 4
                 (a Delaware limited partnership)


    CONSOLIDATED STATEMENT OF NET ASSETS IN LIQUIDATION AS OF
             SEPTEMBER 30, 2007 (LIQUIDATION BASIS)
                           (Unaudited)

ASSETS

Real estate held for sale                     $6,026,500
Cash and cash equivalents                        391,904
Tenant receivables                                 8,619
Escrow deposits                                  200,962
Other assets                                      38,102
                                              ----------
  Total Assets                                 6,666,087
                                              ----------

LIABILITIES

Mortgage notes payable (Note 4)                4,400,000
Accounts payable and accrued expenses             95,755
Reserve for estimated costs during
  the period of liquidation                      129,450
Tenant security deposits                          13,090
Due to affiliates                                  4,049
                                              ----------
  Total Liabilities                            4,642,344
                                              ----------

Net Assets in Liquidation                     $2,023,743
                                              ==========






  See accompanying notes to consolidated financial statements.



                 BRAUVIN REAL ESTATE FUND L.P. 4
                 (a Delaware limited partnership)


 CONSOLIDATED STATEMENT OF CHANGES IN NET ASSETS IN LIQUIDATION
      FOR THE PERIOD JANUARY 1, 2007 TO SEPTEMBER 30, 2007
                       (LIQUIDATION BASIS)
                           (Unaudited)



Net assets in liquidation at January 1, 2007  $1,970,445

Adjustment to estimated liquidation costs         29,475

Excess revenue over expenses
 from operations                                  23,823

                                              ----------

Net assets in liquidation at
 September 30, 2007                           $2,023,743
                                              ==========


Net assets available to:

  General Partners                            $       --
                                              ==========

  Limited Partners                            $2,023,743
                                              ==========







  See accompanying notes to consolidated financial statements.



                 BRAUVIN REAL ESTATE FUND L.P. 4
                 (a Delaware limited partnership)


 CONSOLIDATED STATEMENT OF CHANGES IN NET ASSETS IN LIQUIDATION
      FOR THE PERIOD JANUARY 1, 2006 TO SEPTEMBER 30, 2006
                       (LIQUIDATION BASIS)
                           (Unaudited)



Net assets in liquidation at January 1, 2006
  as previously reported                      $2,092,903

Restatement to eliminate deferred gain           464,312
                                              ----------
Net assets in liquidation at January 1, 2006
  as restated                                  2,557,215

Adjustment to estimated liquidation costs        (50,325)

Excess (expenses) over revenue from
   operations                                   (519,948)
                                              ----------

Net assets in liquidation at
 September 30, 2006                           $1,986,942
                                              ==========


Net assets available to

  General Partners                            $       --
                                              ==========

  Limited Partners                            $1,986,942
                                              ==========




  See accompanying notes to consolidated financial statements.




                 BRAUVIN REAL ESTATE FUND L.P. 4
                 (a Delaware limited partnership)


              CONSOLIDATED STATEMENTS OF OPERATIONS
      FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2007 and 2006
                       (LIQUIDATION BASIS)
                           (Unaudited)

                               2007           2006
                             --------      ---------
INCOME
Rental                       $562,367     $  532,044
Interest                        4,732         16,336
Other, primarily tenant
  expense reimbursements       94,629        120,348
                             --------     ----------
  Total income                661,728        668,728
                             --------     ----------
EXPENSES
Interest                      255,463        240,356
Real estate taxes              88,363         83,367
Repairs and maintenance        36,512         20,309
Management fees (Note 5)       39,356         37,676
Other property operating       40,893         30,164
General and administrative    177,318        765,479
                             --------     ----------
  Total expenses              637,905      1,177,351
                             --------     ----------

Excess revenue over (expenses)
  before equity interests      23,823       (508,623)

Equity interest in Sabal
  Palm Joint Venture's
  excess (expenses) over
  revenue                          --        (11,325)
                             --------     ----------

Excess revenue over (expenses)
  from operations            $ 23,823     $(519,948)
                             ========     =========






  See accompanying notes to consolidated financial statements.




                 BRAUVIN REAL ESTATE FUND L.P. 4
                 (a Delaware limited partnership)


              CONSOLIDATED STATEMENTS OF OPERATIONS
     FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2007 and 2006
                       (LIQUIDATION BASIS)
                           (Unaudited)

                               2007           2006
                             --------       --------
INCOME
Rental                       $187,970       $173,704
Interest                        1,183          6,079
Other, primarily tenant
  expense reimbursements       29,689         32,111
                             --------       --------
  Total income                218,842        211,894
                             --------       --------

EXPENSES
Interest                       87,019         84,244
Real estate taxes              29,440         25,984
Repairs and maintenance         4,861         12,343
Management fees (Note 5)       12,741         11,211
Other property operating       16,444          9,065
General and administrative     50,174        247,462
                             --------       --------
  Total expenses              200,679        390,309
                             --------       --------

Excess expenses over revenue
  from operations            $ 18,163      $(178,415)
                             ========      =========







  See accompanying notes to consolidated financial statements.





                 BRAUVIN REAL ESTATE FUND L.P. 4
                 (a Delaware limited partnership)



           NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                           (Unaudited)

(1)  ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

   The  financial statements consolidate the accounts of  Brauvin
Real  Estate Fund L.P. 4 (the "Partnership") and Brauvin Raleigh,
LLC in addition to a 47% interest in another joint venture, which
is accounted for using the equity method of accounting.

   The  Partnership  is a Delaware limited partnership  organized
for  the  purpose of acquiring, operating, holding for investment
and  disposing  of  existing  office  buildings,  medical  office
centers,  shopping  centers and industrial and retail  commercial
buildings of a general purpose nature, all in metropolitan areas.
The  General  Partners of the Partnership are  Brauvin  Ventures,
Inc.  and Jerome J. Brault.  Mr. Cezar M. Froelich resigned as  a
director  of the corporate general partner in December 1994,  and
resigned as an Individual General Partner effective 90 days  from
August 14, 1997. Brauvin Ventures, Inc. is owned by A.G.E. Realty
Corporation Inc.(50%), and by Messrs. Brault (beneficially) (25%)
and  Froelich  (25%).   A. G. Edwards & Sons,  Inc.  and  Brauvin
Securities,  Inc., affiliates of the General Partners,  were  the
selling agents of the Partnership.  The Partnership is managed by
an affiliate of the General Partners.

   The  General  Partners of the Partnership filed a Registration
Statement   on  Form  S-11  with  the  Securities  and   Exchange
Commission which became effective on February 16, 1984.  The sale
of  the minimum of $1,200,000 of limited partnership interests of
the  Partnership (the "Units") necessary for the  Partnership  to
commence  operations  was achieved on  April  30,  1984  and  the
Partnership  was  formed.  The Partnership's offering  closed  on
December  31,  1984.   A  total  of  $9,550,000  of  Units   were
subscribed and issued between February 16, 1984 and December  31,
1984 pursuant to the Partnership's public offering.

   Properties  acquired  by the Partnership  either  directly  or
indirectly  through affiliated joint ventures were:  (a)  Fortune
Professional Building (which was sold February 2003); (b) Raleigh
Springs  Marketplace; (c) Strawberry Fields Shopping Center(which
was  sold  in July 2001) and (d) Sabal Palm Shopping Center(which
was sold in December 2005).

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

   Management's Use of Estimates

   The  preparation  of financial statements in  conformity  with
generally  accepted accounting principles requires management  to
make  estimates and assumptions that affect the reported  amounts
of assets and liabilities and disclosure of contingent assets and
liabilities  at  the  date of the financial  statements  and  the
reported  amounts of revenues and expenses during  the  reporting
period.    Estimates  significant  to  the  financial  statements
include  the  value used for real estate held for sale,  and  the
reserve  for  estimated costs during the period  of  liquidation.
Management has estimated that the remaining property will be sold
and  the  Partnership will liquidate by the end of 2007.   Actual
results could differ from those estimates.

   Basis of Presentation

   As  a  result of the July 12, 1999 authorization by a majority
of the Limited Partners to sell the Partnership's properties, the
Partnership has begun the liquidation process and, in  accordance
with  generally accepted accounting principles, the Partnership's
financial statements for periods subsequent to July 12, 1999 have
been   prepared   on   the  liquidation  basis   of   accounting.
Accordingly, the carrying values of assets are presented at their
net realizable amounts and liabilities are presented at estimated
settlement  amounts,  including estimated costs  associated  with
carrying  out  the  liquidation.  Preparation  of  the  financial
statements   on   a   liquidation  basis   requires   significant
assumptions  by management, including the estimate of liquidation
costs  and  the resolution of any contingent liabilities.   There
may be differences between the assumptions and the actual results
because  events  and circumstances frequently  do  not  occur  as
expected.  Those differences, if any, could result in a change in
the  net  assets  recorded  in the statement  of  net  assets  in
liquidation as of September 30, 2007.

   Estimated Liquidation Costs

    Estimated costs expected to be incurred during the  remaining
liquidation period through December 31, 2007 include legal  fees,
insurance  costs and other administrative items.  Such  costs  do
not  include  costs  associated with leasing available  space  at
Raleigh Springs.

   Actual  results could differ materially from these  estimates.
On  a  regular  basis an evaluation is made of  the  assumptions,
judgments and estimates and changes are recorded, as appropriate.

   Accounting Method

   The  accompanying consolidated financial statements have  been
prepared in accordance with the liquidation basis of accounting.

   Tenant Receivables

   Tenant   receivables  are  comprised   of   (a)   billed   but
uncollected  amounts due for monthly rents and other charges  and
(b)  estimated  unbilled amounts due for tenant reimbursement  of
common  area maintenance charges and property taxes.  Receivables
are  recorded at net realizable value.  An allowance for doubtful
accounts  of  $46,389  is  based on  specific  identification  of
uncollectible   accounts   and   the   Partnership's   historical
collection experience.

   Federal Income Taxes

   Under  the  provisions  of  the  Internal  Revenue  Code,  the
Partnership's income and losses are reportable by the partners on
their  respective income tax returns.  Accordingly, no  provision
is made for Federal income taxes in the financial statements.


   Principles of Consolidation

   The  Partnership  has one affiliate, Brauvin  Raleigh,  L.L.C.
which  is  owned  100% by the Partnership.  The accounts  of  the
Partnership   have  been  consolidated  with  its  wholly   owned
subsidiary   in  the  accompanying  financial  statements.    All
significant  intercompany  balances and  transactions  have  been
eliminated upon consolidation.

   Investment in Joint Venture Partnership

   The  Partnership  owned a 47% equity interest  in  Sabal  Palm
Joint  Venture  (see  Note 6).  Sabal Palm  was  reported  as  an
investment  in  an  affiliated joint  venture.   The  Partnership
recorded  its proportionate share of income and loss  from  joint
venture operations.

   On  December  7,  2005 the joint venture sold the  Sabal  Palm
property  for  a  gross  sales price of  $4,350,000.   The  joint
venture received net sales proceeds, after repayment of the first
mortgage,  of approximately $1,601,000 and recognized a  gain  on
the  sale  of $1,189,925.  In 2006, the joint venture distributed
all of its cash to its partners and liquidated.

   Investment in Real Estate

   Prior  to the preparation of the financial statements  on  the
liquidation   basis  of  accounting,  the  operating   properties
acquired  by  the  Partnership  were  stated  at  cost  including
acquisition  costs, leasing commissions, tenant improvements  and
net  of  impairment. Depreciation and amortization  expense  were
computed  on a straight-line basis over approximately 31.5  years
and  the  term  of  the  applicable  leases,  respectively.   The
Partnership's  remaining property is subject to a  lien  under  a
first mortgage (see Note 4).

   Subsequent  to  the  adoption  of  the  liquidation  basis  of
accounting,  the  Partnership adjusted  its  investment  in  real
estate  to  estimated net realizable value, which is recorded  as
real   estate  held  for  sale.   Additionally,  the  Partnership
suspended recording any further depreciation expense.


   Cash and Cash Equivalents

   Cash  and  cash  equivalents include all  highly  liquid  debt
instruments  with an original maturity within three  months  from
date of purchase.

   The  Partnership maintains its cash in bank deposit  accounts,
which,  at  times,  may  exceed federally  insured  limits.   The
Partnership  has  not experienced any losses  in  such  accounts.
Management  believes  the  Partnership  is  not  exposed  to  any
significant credit risk related to cash or cash equivalents.

   Estimated Fair Value of Financial Instruments

   In  connection with the adoption of the liquidation  basis  of
accounting  assets  were adjusted to net  realizable  value,  and
liabilities were adjusted to estimated settlement amounts.
   Derivatives and Hedging Instruments

   The  Partnership  has a derivative which  is  valued  at  fair
market  value.   The  fair market value of  the  derivative,  the
interest rate cap in Note 4, is not material.

   Restatement

   Under  liquidation basis of accounting, there is no basis  for
retaining  the deferral for gain recognition which  was  required
under   the  going  concern  accounting  principle.   Net  assets
available  for liquidation at January 1, 2006 have been  restated
to increase the net assets available for liquidation by $464,312,
the amount of the previously recorded deferred gain.


(2)  PARTNERSHIP AGREEMENT

   The  Partnership Agreement (the "Agreement") provides that 99%
of  the net profits and losses from operations of the Partnership
for  each  fiscal year shall be allocated to the Limited Partners
and  1%  of  net  profits  and losses from  operations  shall  be
allocated  to  the  General Partners.   The  net  profit  of  the
Partnership  from the sale or other disposition of a  Partnership
property  shall be allocated as follows:  first, there  shall  be
allocated to the General Partners the greater of:  (i) 1% of such
net  profits;  or (ii) the amount distributable  to  the  General
Partners as Net Sale Proceeds from such sale or other disposition
in  accordance with paragraph 2, section K of the Agreement;  and
second,  all remaining profits shall be allocated to the  Limited
Partners.  The net loss of the Partnership from any sale or other
disposition  of  a  Partnership property shall  be  allocated  as
follows:  99% of such net loss shall be allocated to the  Limited
Partners  and  1%  of  such net loss shall be  allocated  to  the
General Partners.

   The  Agreement  provides that distributions of Operating  Cash
Flow,  as defined in the Agreement, shall be distributed  99%  to
the Limited Partners and 1% to the General Partners.  The receipt
by  the General Partners of such 1% of Operating Cash Flow  shall
be  subordinated  to  the  receipt by  the  Limited  Partners  of
Operating  Cash  Flow  equal  to a  10%  per  annum,  cumulative,
non-compounded   return   on  their  Adjusted   Investment   (the
"Preferential  Distribution"), as such term  is  defined  in  the
Agreement.   In  the event the full Preferential Distribution  is
not  made  in  any  year (herein referred to as  a  "Preferential
Distribution Deficiency") and Operating Cash Flow is available in
following  years  in excess of the Preferential Distribution  for
said  year,  then the Limited Partners shall be paid such  excess
Operating  Cash  Flow  until  they  have  been  paid  any  unpaid
Preferential Distribution Deficiency from prior years.  Net  Sale
Proceeds,   as  defined  in  the  Agreement,  received   by   the
Partnership shall be distributed as follows:  (a) first,  to  the
Limited  Partners  until such time as the Limited  Partners  have
been  paid  an  amount  equal to the  amount  of  their  Adjusted
Investment; (b) second, to the Limited Partners until  such  time
as  the  Limited Partners have been paid an amount equal  to  any
unpaid  Preferential Distribution Deficiency; and (c) third,  85%
of  any remaining Net Sale Proceeds to the Limited Partners,  and
the  remaining  15%  of  the Net Sale  Proceeds  to  the  General
Partners.

   At   September   30,   2007,  the  Preferential   Distribution
Deficiency  exceeded  the  potential  liquidation  value  of  the
remaining Partnership assets.


  (3)  REAL ESTATE HELD FOR SALE

  As  a  result  of  the  adoption of the  liquidation  basis  of
accounting  (Note  1) the Partnership adjusted  its  real  estate
holdings to net realizable value.

  At  September 30, 2007, the amount in real estate held for sale
represents  the  Partnership's estimated value  (net  of  closing
costs) for the Raleigh Springs Market Place.


  (4)  MORTGAGE NOTE PAYABLE

  On  March  11,  2002, the Partnership accepted  a  proposal  to
modify the Raleigh Springs Marketplace mortgage loan.  Under  the
terms of the proposal, the maturity date was extended to April 1,
2007.   The  loan, which continued to bear interest  at  10%  per
annum, required monthly installments of principal and interest of
$46,839 (based upon a 25 year amortization schedule) with a final
payment of unpaid interest and principal on April 1, 2007.

   On  November 17, 2005, the Partnership paid off the prior loan
(in  the amount of $3,910,423) from the proceeds from a new first
mortgage  loan  ("First Mortgage") in the amount  of  $4,400,000.
This  loan  requires payments of interest only and has a  twelve-
month maturity.  In addition, the Partnership had the ability  to
extend this loan for an additional twelve-month period (with  the
payment  of  an additional fee of $11,000).  Interest is  payable
based  on  the LIBOR rate plus 2.25%. On September 30,  2007  and
September 30, 2006 the interest rate was approximately 8.00%  and
7.58%,  respectively. The Partnership has requested an  extension
of  the  facility through March 9, 2008.  The lender is currently
considering the proposal and there can be no assurance  that  the
loan will be extended.

   The  Partnership was also required to purchase  interest  rate
caps  with  one year maturity at a cost of $5,000 and  $2,000  at
December 15, 2006 and 2005, respectively. The interest rate  caps
fixed  the  LIBOR  rate  at 6.45%.  The notional  amount  of  the
interest rate cap agreements are identical to the notional amount
of the mortgage loan.  The fair market value of the interest rate
cap agreements at September 30, 2007 and December 31, 2006 is $0.

   The  First  Mortgage  also required  the  establishment  of  a
$300,000  escrow  that  can be used for  the  payment  of  tenant
improvements and leasing commissions.  The Partnership  has  been
reimbursed  approximately $229,000 from the  escrow  account  for
improvements related to the Marty's buildout.

   The  First  Mortgage lender also required the  Partnership  to
create  a  special purpose entity, Brauvin Raleigh LLC, which  is
fully owned by the Partnership.  The Partnership transferred  its
ownership  interest  in the Raleigh Springs  Marketplace  to  the
special  purpose  entity.  The Partnership was also  required  to
enter  into a limited guaranty agreement.  Primarily,  under  the
terms  of  the  guaranty agreement the Partnership  will  not  be
personally  liable unless the Partnership or Brauvin Raleigh  LLC
commit  fraud  by  misapplication  or  misappropriation  of  cash
receipts.

   Raleigh  Springs  Marketplace serves as collateral  under  the
respective non recourse debt obligation.

 (5) TRANSACTIONS WITH AFFILIATES

   Fees  and  other expenses incurred or payable to  the  General
Partners  or their affiliates for the nine months ended September
30, 2007 and 2006 were as follows:

                                 2007             2006
                               -------          -------
Management fees                $39,356          $37,676
Reimbursable office expenses    88,425           71,050

   As  of  September  30,  2007, the  Partnership  had  made  all
payments to affiliates except for $4,049 for management fees.


(6)  EQUITY INVESTMENT


   The  Partnership  owned a 47% interest  in  Sabal  Palm  Joint
Venture ("Sabal Palm") and accounted for its investment under the
equity method.

   On  December  7, 2005, the joint venture sold the  Sabal  Palm
property  for  a  gross  sales price of  $4,350,000.   The  joint
venture received net sales proceeds, after repayment of the first
mortgage,  of approximately $1,601,000 and recognized a  gain  on
the  sale of $1,189,925.  Under the terms of the transaction, the
joint  venture was able to bill and retain the 2005  common  area
maintenance reimbursements.  Accordingly, in late December  2005,
the  joint  venture  billed the Sabal Palm tenants  approximately
$75,000  for its common area reimbursement.  In 2006,  the  joint
venture  distributed  all  of  its  cash  to  its  partners   and
liquidated.


ITEM  2.   Management's  Discussion  and  Analysis  or  Plan   of
Operation.

  General

  Certain  statements  in  this Quarterly  Report  that  are  not
historical  fact  constitute "forward-looking statements"  within
the  meaning of the Private Securities Litigation Reform  Act  of
1995.     Without   limiting  the  foregoing,   words   such   as
"anticipates,"   "expects,"  "intends,"   "plans"   and   similar
expressions  are intended to identify forward-looking statements.
These   statements  are  subject  to  a  number  of   risks   and
uncertainties.  Actual results could differ materially from those
projected  in  the forward-looking statements.   The  Partnership
undertakes   no   obligation  to  update  these   forward-looking
statements to reflect future events or circumstances.


Liquidity and Capital Resources

   The  Partnership  intends to satisfy its short-term  liquidity
needs  through  cash flow from its remaining property.   Mortgage
notes  payable  are expected to be satisfied through  a  property
sale.

   The  General Partners determined to pursue the disposition  of
the Partnership's assets.  In 1999, the Partnership solicited and
received the votes of the Limited Partners to approve a  sale  of
all  the  Partnership's properties, either on  an  individual  or
group basis, and to subsequently liquidate the Partnership.   The
solicitation, which was approved by the Limited Partners  in  the
third  quarter of 1999, stated that the Partnership's  properties
may  be sold individually or in any combination provided that the
total  sales price for the properties included in the transaction
equals  or exceeds 70% of the aggregate appraised value for  such
properties, which valuation was conducted by an independent third
party appraisal firm.

   The  Partnership intends to sell Raleigh Springs late in  2007
or  early  2008  under a closed bid process  which  will  include
identification of target buyers with proven financing ability and
performance  of  certain evaluations of the properties,  such  as
environmental  testing.  Potential buyers will  be  requested  to
sign  confidentiality agreements to safeguard  the  Partnership's
confidential proprietary information.  The General Partners  have
determined   that   each  bid  must  be  all   cash,   completely
unconditional   and   accompanied  by  a   substantial   deposit.
Subsequent  to  the end of the second quarter, the  property  was
listed for sale with a national broker that has experience in the
Memphis  Market.  The initial marketing has generated significant
interest  in  the  property.  The Partnership  has  negotiated  a
contract for the sale of the property with an unaffiliated  third
party.  The buyer is currently in its due diligence investigation
period.  If the buyer deems the property to be satisfactory,  the
contract  calls  for the sale to be completed by year  end  2007.
However,  there is no assurance that this sale will be  completed
under the terms or timing currently anticipated.

   The  Partnership  has requested an extension  of  the  Raleigh
facility   through  March  9,  2008.   The  lender  is  currently
considering the proposal and there can be no assurance  that  the
loan will be extended.

Property Status

   Raleigh Springs Marketplace

   In  the  fourth quarter of 2001, the Partnership leased 13,400
square  feet of space to Sav A Lot, a national grocery chain.  In
the  third quarter of 2004, Sav A Lot exercised its first  option
and  extended  the  lease maturity through 2008.   In  the  first
quarter  of  2004,  the  Partnership  reached  an  agreement   in
principle with AJ Wright, a national clothing retailer,  to  take
approximately 25,000 square feet of the space then leased to Toys
"R"  Us.  The Partnership negotiated a lease with the tenant that
required  substantial reconfiguration to the existing  space  and
tenant  improvements.   This lease was subject  to  a  successful
termination  and buyout of the existing Toys "R" Us  lease.   The
Partnership  reached  an  agreement with  Toys  "R"  Us  for  the
termination and a substantial buyout payment by Toys  "R"  Us  to
the  Partnership (such payment in the amount of $1,400,000 having
been  received  in September 2004).  The Partnership  anticipated
the  payment  would cover all of the conversion and tenant  build
out costs required by the new tenant. The buyout of the lease was
subject  to the approval of the property's lender and the  lender
agreed  to  the transaction. In addition in 2004, the Partnership
leased   approximately  10,000  square  feet  to   the   Veterans
Administration  (the  "VA").   The  VA  lease  also  required   a
significant build out.  The Partnership has incurred the cost  of
the  build  out and funded the expense through a portion  of  the
Toys  "R"  Us  lease  buyout.   In addition,  the  VA  will  make
additional  lease payments to the Partnership in an  amount  that
will  amortize  the  cost of the improvements  over  a  five-year
period. AJ Wright and the VA took occupancy in the fourth quarter
of 2004.

   In  the  first  quarter of 2006, the Partnership  received  an
expression  of interest in leasing the remaining space  that  was
the  former Toys "R" Us (approximately 11,000 square  feet).   In
the  second quarter of 2006, the Partnership and Marty's, LLC  (a
regional  retailer  of mens fashion clothing)  executed  a  lease
agreement.   The tenant required significant improvements  to  be
made  to  the  space  prior  to its occupancy.   The  Partnership
primarily  paid  for these improvements through the  use  of  the
escrow  funds  held  by the First Mortgage  lender  (as  detailed
above)  and available cash on hand.  Marty's began its  occupancy
in mid November 2006 and has begun paying rent in April 2007.   A
tenant that had occupied approximately 4,800 square feet (or 4.2%
of the center) filed for bankruptcy and has terminated its lease.
During  the fourth quarter, the Partnership expanded the expanded
the lease space with the VA by 600 square feet.  In addition, the
Partnership  has  a  verbal indication from Sav  A  Lot  that  it
intends to exercise its five year renewal option.

   The  Partnership  has  made a number of cosmetic  repairs  and
improvements to Raleigh Springs to improve its marketability  for
sale.   These  improvements included painting and repair  of  the
sign band as well as minor parking lot repairs and a full parking
lot  reseal and restriping.  In addition, Sav A Lot has  recently
requested permission to upgrade its signage at the property.

   The  Partnership has negotiated a contract for the sale of the
property  with  an  unaffiliated  third  party.   The  buyer   is
currently  in  its due diligence investigation  period.   If  the
buyer  deems the property to be satisfactory, the contract  calls
for the sale to be completed by year end 2007.  However, there is
no  assurance that this sale will be completed under the terms or
timing currently anticipated.

   Sabal Palm Shopping Center

   On  December  7, 2005, the joint venture sold the  Sabal  Palm
property  for  a  gross  sales price of  $4,350,000.   The  joint
venture received net sales proceeds, after repayment of the first
mortgage,  of approximately $1,601,000 and recognized a  gain  on
the  sale of $1,189,925.  Under the terms of the transaction, the
joint  venture was able to bill and retain the 2005  common  area
maintenance reimbursements.  Accordingly, in late December  2005,
the  joint  venture  billed the Sabal Palm tenants  approximately
$75,000  for  its common area reimbursement. In 2006,  the  joint
venture  distributed  all  of  its  cash  to  its  partners   and
liquidated.


Results of Operations

   The  Partnership's revenue and expenses are affected primarily
by  the  operations  of  its last remaining  property.   Property
operations,  and in particular the components of  income,  demand
for space and rental rates are, to a large extent, determined  by
local  and  national  market conditions.  These  conditions  have
generally   adversely   impacted   the   Partnership's   property
economics.

   The  General  Partners conduct an in-depth assessment  of  the
property's  physical condition as well as a demographic  analysis
to assess opportunities for increasing occupancy and rental rates
and  decreasing  operating  costs.  In all  instances,  decisions
concerning restructuring of loan terms, reversions and subsequent
operation  of the property are made with the intent of maximizing
the  potential proceeds to the Partnership and, therefore, return
of investment and income to Limited Partners.

   In   certain   instances  and  under  limited   circumstances,
management  of  the  Partnership entered into  negotiations  with
lenders  for the purpose of restructuring the terms of  loans  to
provide  for  debt  service levels that  could  be  supported  by
operations   of   the   properties.    When   negotiations    are
unsuccessful,   management  of  the  Partnership  considers   the
possibility  of  reverting the properties to the  first  mortgage
lender.   Foreclosure proceedings may require 6 to 24  months  to
conclude.

Results of Operations - Nine months ended September 30, 2007  and
2006 (Liquidation Basis)

  As  a  result  of the Partnership's adoption of the liquidation
basis  of  accounting, and in accordance with generally  accepted
accounting principles, the Partnership's financial statements for
periods  subsequent  to July 12, 1999 have  been  prepared  on  a
liquidation basis.

  The  Partnership generated an excess of revenue  over  expenses
of $24,000 for the period ended September 30, 2007 as compared to
an  excess  of  expenses over revenue of $520,000  for  the  same
period in 2006.  The $544,000 increase in excess of revenue  over
expenses is primarily a result of a decrease in total expenses of
$539,000  reduced by a decrease in total income of  $7,000.   The
Partnership's share of Sabal Palms net loss decreased $11,000.

  Total  income  for  the  period ended September  30,  2007  was
$662,000  as  compared to $669,000 for the same period  in  2006.
The  $7,000 decrease in total revenue was primarily a  result  of
decreases  in  other primarily tenant expense reimbursements  and
interest   income   of   approximately   $26,000   and   $11,000,
respectively.   Other  primarily  tenant  expense  reimbursements
decreased  $26,000  from  2006 to 2007 as  a  result  of  certain
tenants   at   Raleigh   Springs  Marketplace   reimbursing   the
Partnership for tenant improvement items completed in 2006, while
no  such work was done in 2007.  Offsetting the decrease in other
primarily tenant expense reimbursements was an increase in rental
income of $30,000, which was the result of increased occupancy at
the Raleigh in 2007.

  Total  expenses for the period ended September  30,  2007  were
$638,000  as compared to $1,177,000 for the same period in  2006.
The  $539,000 decrease in total expense was due to a decrease  in
general  and administrative expense of $588,000 relating  to  the
Marty's  buildout at Raleigh Springs Marketplace,  offset  by  an
increase  in repairs and maintenance of $16,000 relating  to  the
parking   lot   repairs  and  resurfacing  at  Raleigh   Springs.
Additionally, interest expense increased $15,000 which relates to
higher interest rates in 2007 when compared to 2006.

Results of Operations - Three months ended September 30, 2007 and
2006 (Liquidation Basis)

  The  Partnership  generated excess expenses  over  revenues  of
$18,000  for  the period ended September 30, 2007 as compared  to
excess  of expenses over revenue of $178,000 for the same  period
in  2006.  The $196,000 decrease in excess expenses over revenues
is primarily a result of a decrease in total expenses of $189,000
and increase in total income of $7,000.

  Total  income  for  the  period ended September  30,  2007  was
$219,000  as  compared to $212,000 for the same period  in  2006.
The increase in total income is primarily a result of an increase
in  rental  income of $14,000, which was relates to an  increased
occupancy  at  the  Raleigh  in 2007.  Partially  offsetting  the
increase  in rental revenue was a decrease in interest income  of
$5,000   and  a  decrease  in  other  primarily  tenant   expense
reimbursements of $2,000 from 2006 to 2007.

  Total  expenses for the period ended September  30,  2007  were
$201,000  as  compared to $390,000 for the same period  in  2006.
The  $189,000 decrease in total expense was due to a decrease  in
general and administrative expense of $197,000 and a decrease  in
repairs  and maintenance of $7,000, partially offset by increases
in operating expense of $7,000, real estate tax expense of $3,000
and  interest  expense of $3,000.  The decrease  in  general  and
administrative  expense  relates to  the  costs  of  the  Marty's
buildout  at  Raleigh Springs Marketplace in 2006.   Repairs  and
maintenance  expense increased as a result  of  the  parking  lot
repairs and resurfacing at Raleigh Springs Marketplace.




ITEM 3.     Controls and Procedures

Evaluation of Disclosure Controls and Procedures

  Our  Chief  Executive Officer and Chief Financial  Officer,  of
the  corporate  general partner, have reviewed and evaluated  the
effectiveness  of  the  Partnership's  disclosure  controls   and
procedures  (as  defined in Exchange Act Rules 240.13a-14(c)  and
15d-14(c))  as  of the date of this Quarterly Report.   Based  on
that  evaluation, the Chief Executive Officer and Chief Financial
Officer  have concluded that the Partnership's current disclosure
controls  and procedures are effective and timely, providing  all
material information relating to the Partnership required  to  be
disclosed in reports filed or submitted under the Exchange Act.

Changes in Internal Controls

  There   have   not   been  any  significant  changes   in   the
Partnership's  internal controls or in other factors  that  could
significantly  affect these controls subsequent to  the  date  of
their   evaluation.   We  are  not  aware  of   any   significant
deficiencies  or  material weaknesses,  therefore  no  corrective
actions were taken.





                 BRAUVIN REAL ESTATE FUND L.P. 4
                 (a Delaware limited partnership)


                   PART II - OTHER INFORMATION


  ITEM 1.  Legal Proceedings.

            None.

  ITEM 2.  Changes in Securities.

            None.

  ITEM 3.  Defaults Upon Senior Securities.

            None.

  ITEM 4.  Submission of Matters to a Vote of Security
            Holders.

            None.

  ITEM 5.  Other Information.

            None.

  ITEM 6.  Exhibits and Reports On Form 8-K.

            Exhibit 99.  Certification of Officers








                           SIGNATURES


In  accordance  with the requirements of the  Exchange  Act,  the
registrant caused this report to be signed on its behalf  by  the
undersigned, thereunto duly authorized.



                         BY:  Brauvin Ventures, Inc.
                              Corporate General Partner of
                              Brauvin Real Estate Fund L.P. 4


                              BY:  /s/ Jerome J. Brault
                                   Jerome J. Brault
                                   Chairman of the Board of
                                   Directors and President

                              DATE: November 14, 2007


                              BY:  /s/ Thomas E. Murphy
                                   Thomas E. Murphy
                                   Chief Financial Officer and
                                   Treasurer

                              DATE: November 14, 2007





         CERTIFICATION FOR SARBANES-OXLEY SECTION 302(A)
           CERTIFICATE OF THE CHIEF EXECUTIVE OFFICER

I, Jerome J. Brault, certify that:

1.   I  have  reviewed this quarterly report on  Form  10-QSB  of
     Brauvin Real Estate Fund L.P. 4;

2.   Based  on  my  knowledge, this report does not  contain  any
     untrue  statement  of  material fact  or  omit  to  state  a
     material  fact  necessary to make the  statements  made,  in
     light of the circumstances under which such statements  were
     made,  not misleading with respect to the period covered  by
     this report;

3.   Based  on my knowledge, the financial statements, and  other
     financial  information  included  in  this  report,   fairly
     present  in all material respects the consolidated financial
     condition, results of operations and statement of changes in
     net  assets in liquidation of the small business  issuer  as
     of, and for, the periods presented in this report;

4.   The  small business issuer's other certifying officer and  I
     are  responsible for establishing and maintaining disclosure
     controls  and procedures (as defined in Exchange  Act  Rules
     13a-15(e) and 15d-15(e)) and internal control over financial
     reporting  (as  defined in Exchange Act Rules 13a-15(f)  and
     15d-15(f)for the small business issue and have:

     a)   Designed  such  disclosure controls and procedures,  or
          caused  such disclosure controls and procedures  to  be
          designed under our supervision, to ensure that material
          information  relating  to the  small  business  issuer,
          including its consolidated subsidiaries, is made  known
          to  us  by  others within those entities,  particularly
          during  the  period in which this quarterly  report  is
          being prepared;

     b)   Evaluated  the  effectiveness  of  the  small  business
          issuer's   disclosure  controls  and   procedures   and
          presented  in  this  report our conclusions  about  the
          effectiveness   of   the   disclosure   controls    and
          procedures, as of the end of the period covered by this
          report based on such evaluation; and

     c)   Disclosed  in  this  report any  change  in  the  small
          business   issuer's  internal  control  over  financial
          reporting  that  occurred  during  the  small  business
          issuer's most recent fiscal quarter (the small business
          issuer's  fourth  quarter in  the  case  of  an  annual
          report)  that has materially affected, or is reasonably
          likely   to  materially  affect,  the  small   business
          issuer's internal control over financial reporting; and

5.   The  small business issuer's other certifying officer and  I
     have  disclosed,  based  on our most  recent  evaluation  of
     internal  control  over financial reporting,  to  the  small
     business issuer's auditors and the audit committee of  small
     business  issuer's board of directors (or persons performing
     the equivalent function):

     a)   All significant deficiencies and material weaknesses in
          the  design  or  operation  of  internal  control  over
          financial  reporting  which are  reasonably  likely  to
          aversely affect the small business issuer's ability  to
          record,   process,   summarize  and  report   financial
          information; and

     b)   Any  fraud,  whether  or  not material,  that  involves
          management  or  other employees who have a  significant
          role  in  the small business issuer's internal controls
          over financial reporting.

                         BY:  Brauvin Ventures, Inc.
                              Corporate General Partner of
                              Brauvin Real Estate Fund L.P. 4

                              BY:  /s/ Jerome J. Brault
                                   Jerome J. Brault
                                   Chairman of the Board of
                                   Directors and President

                              DATE: November 14, 2007





         CERTIFICATION FOR SARBANES-OXLEY SECTION 302(A)

           CERTIFICATE OF THE CHIEF FINANCIAL OFFICER

I, Thomas E. Murphy, certify that:

1.   I  have  reviewed this quarterly report on  Form  10-QSB  of
     Brauvin Real Estate Fund L.P 4.;

2.   Based  on  my  knowledge, this report does not  contain  any
     untrue  statement  of  material fact  or  omit  to  state  a
     material  fact  necessary to make the  statements  made,  in
     light of the circumstances under which such statements  were
     made,  not misleading with respect to the period covered  by
     this report;

3.   Based  on my knowledge, the financial statements, and  other
     financial  information  included  in  this  report,   fairly
     present  in all material respects the consolidated financial
     condition, results of operations and statement of changes in
     net  assets in liquidation of the small business  issuer  as
     of, and for, the periods presented in this report;

4.   The  small business issuer's other certifying officer and  I
     are  responsible for establishing and maintaining disclosure
     controls  and procedures (as defined in Exchange  Act  Rules
     13a-15(e) and 15d-15(e)) and internal control over financial
     reporting  (as  defined in Exchange Act Rules 13a-15(f)  and
     15d-15(f)for the small business issue and have:

     a)   Designed  such  disclosure controls and procedures,  or
          caused  such disclosure controls and procedures  to  be
          designed under our supervision, to ensure that material
          information  relating  to the  small  business  issuer,
          including its consolidated subsidiaries, is made  known
          to  us  by  others within those entities,  particularly
          during  the  period in which this quarterly  report  is
          being prepared;

     b)   Evaluated  the  effectiveness  of  the  small  business
          issuer's   disclosure  controls  and   procedures   and
          presented  in  this  report our conclusions  about  the
          effectiveness   of   the   disclosure   controls    and
          procedures, as of the end of the period covered by this
          report based on such evaluation; and

     c)   Disclosed  in  this  report any  change  in  the  small
          business   issuer's  internal  control  over  financial
          reporting  that  occurred  during  the  small  business
          issuer's most recent fiscal quarter (the small business
          issuer's  fourth  quarter in  the  case  of  an  annual
          report)  that has materially affected, or is reasonably
          likely   to  materially  affect,  the  small   business
          issuer's internal control over financial reporting; and

5.   The  small business issuer's other certifying officer and  I
     have  disclosed,  based  on our most  recent  evaluation  of
     internal  control  over financial reporting,  to  the  small
     business issuer's auditors and the audit committee of  small
     business  issuer's board of directors (or persons performing
     the equivalent function):

     a)   All significant deficiencies and material weaknesses in
          the  design  or  operation  of  internal  control  over
          financial  reporting  which are  reasonably  likely  to
          aversely affect the small business issuer's ability  to
          record,   process,   summarize  and  report   financial
          information; and

     b)   Any  fraud,  whether  or  not material,  that  involves
          management  or  other employees who have a  significant
          role  in  the small business issuer's internal controls
          over financial reporting.

                         BY:  Brauvin Ventures, Inc.
                              Corporate General Partner of
                              Brauvin Real Estate Fund L.P. 4


                              BY:  /s/ Thomas E. Murphy
                                   Thomas E. Murphy
                                   Chief Financial Officer and
                                   Treasurer

                              DATE: November 14, 2007




                           Exhibit 99
                    SECTION 906 CERTIFICATION


The  following  statement  is  provided  by  the  undersigned  to
accompany  the  Quarterly Report on Form 10-QSB for  the  quarter
ended September 30, 2007, pursuant to Section 906 of the Sarbanes-
Oxley  Act of 2002 and shall not be deemed filed pursuant to  any
provisions  of the Securities Exchange Act of 1934 or  any  other
securities law:

Each  of  the undersigned certifies that the foregoing Report  on
Form 10-QSB fully complies with the requirements of Section 13(a)
of  the Securities Exchange Act of 1934 (15 U.S.C. 78m) and  that
the information contained in the Form 10-QSB fairly presents,  in
all  material  respects, the financial condition and  results  of
operations of Brauvin Real Estate Fund L.P. 4.


                         BY:  Brauvin Ventures, Inc.
                              Corporate General Partner of
                              Brauvin Real Estate Fund L.P. 4


                              BY:  /s/ Jerome J. Brault
                                   Jerome J. Brault
                                   Chairman of the Board of
                                   Directors and President

                              DATE:     November 14, 2007


                              BY:  /s/ Thomas E. Murphy
                                   Thomas E. Murphy
                                   Chief Financial Officer and
                                   Treasurer

                              DATE:     November 14, 2007